ABSTRACT Doubtful Sound, in SW New Zealand, exposes an exhumed section of lower crust that represents the root of an Early Cretaceous magmatic arc. Here, the lower crust underwent a change from contraction to extension and these tectonic cycles are fundamental to the growth of continental crust. Mafic-intermediate granulite gneisses occur below the extensional Doubtful Sound shear zone (DSSZ) which records the retrogression and transposition of granulite fabrics at the upper amphibolite facies. I compared 3D rock fabrics, microstructures and textures within and below the DSSZ to determine the processes involved in the shift from contraction to extension and to infer the sequential processes of transforming L>S granulites to L=S amphibolites. Below the DSSZ, dehydration zones around felsic veins and leucosome in migmatitic orthogneiss record granulite facies metamorphism. Aggregates of clinopyroxene (cpx) and orthopyroxene (opx) that are rimmed by garnet (grt) and interstitial melt are set in a plagioclase (pl) matrix. Peritectic grt, pl-grt symplectites, beads of pl along grain boundaries, and elongate, inclusion-free pl reflect the anatexis. Pl exhibits a crystal preferred orientation (CPO) and evidence of subgrain rotational recrystallization and grain boundary migration, indicating subsolidus deformation outlasted melting. Mafic aggregates are boudinaged and opx developed subgrains. During peak metamorphism high strain was partitioned to locations enriched in melt, producing L>S fabrics and an upward trajectory in the strain path. A comparison of mineral grain shapes indicates that pl accommodated most of the strain. Granulite-amphibolite transitional rocks inside the DSSZ record a heterogeneous retrogression of the granulites to a polyphase metamorphic assemblage of hornblende (hbl), biotite (bt), and fine pl. Also preserved is the resetting of high strain L>S granulite to low strain, L=S amphibolite. Folia of porphyroblastic hbl + bt progressively penetrate the pl matrix via solution mass transfer. Porphyroblastic pl in the rock matrix becomes increasingly transposed to gneissic layering. A path of decreasing gradient from high strain L>S granulite to low strain L=S amphibolite reflects the development of the DSSZ fabric, growth of new minerals and onset to deformation at the amphibolite facies. Inside the DSSZ, amphibolites show an increasing strain gradient from low strain L=S amphibolite to high strain L=S amphibolite. Pl aggregates lack a CPO and are mostly annealed but preserve grain boundary migration microstructures. Hbl is recrystallized and forms asymmetric fish. Evidence of high fluid activity and reaction softening within the DSSZ include increased hbl + bt and bt beards on pl relative to rocks outside the DSSZ. My observations suggest that magma, heat, and melting initially weakened the lower crust, facilitating the development of high strain zones with L>S fabrics. Partially molten regions deformed by suprasolidus flow and solid portions deformed mostly by dislocation creep in pl and boudinage of cpx + opx. Later, the lower crust was weakened and high strain fabrics were reset from overprinting and transposition as retrogression progressed and low strain L=S fabrics formed. During extension there was an upward trajectory in the strain path to high strain L=S fabrics within the DSSZ, where hbl and bt accommodated more strain. My results illustrate the importance of 1) melting, cooling, and hydration in controlling strain partitioning and the rheological evolution of lower crustal shear zones, and 2) the importance of integrating microstructural and fabric analysis to determine strain paths.

New Zealand�s fourteen deep-water fiords have complex physical and hydrographic features as well as strong environmental gradients, all of which may influence the population structure of organisms that inhabit the fiords. I examined the population structure of the brachiopod Terebratella sanguinea over ecological and evolutionary time scales in relation to physical and hydrographic features of the fiords. To further explore the role of larval dispersal in this system, comparisons between population genetic structure of T. sanguinea and a brachiopod with a contrasting larval dispersal strategy (Liothyrella neozelanica) were made. Aspects of the life history of the articulate brachiopod Terebratella sanguinea were measured. I measured density and size throughout Doubtful Sound and growth at outer (5 km from outer coast) and inner fiord sites (13.5 km from outer coast). Additionally, reproductive periodicity was measured at a single site within Doubtful Sound. Terebratella sanguinea occurred at significantly lower densities and was significantly smaller at the outer fiord site (p < 0.05), however growth rates between an inner and outer fiord site did not differ significantly. Terebratella sanguinea was found to have separate sexes and synchronous maturation of oocytes with spawning occurring in the austral winter. These results indicated that, on an ecological time scale, the environmental gradient of the fiords influences aspects of T. sanguinea population structure. In order to determine the influence of the fiord environment on genetic population structure, patterns among T. sanguinea from across Fiordland were assessed using two genetic markers, and these data were compared to hydrodynamic variables. Ten sites (322 individuals) were included in a preliminary allozyme analysis, and 20 sites (358 individuals) were used for the amplified fragment length polymorphism (AFLP) analysis. Patchy genetic differentiation was revealed with both markers, and a break between Long Sound and the other Fiordland sites was detected with AFLP markers. My results suggest hydrodynamic features of this region may isolate organisms that can disperse only during a planktonic larval phase, however this isolation is visible in genetic patterns only at the most extreme values of the hydrodynamic variables. To better understand how the fiord environment influences population structure of organisms that disperse via planktonic larvae, I compared population genetic structure of two sympatric brachiopod species that differ in planktonic larval duration. Genetic analysis using the AFLP technique revealed population structuring corresponding to the contrasting modes of larval dispersal. AMOVA analysis indicated Liothyrella neozelanica, a brachiopod that broods its larvae, had more limited exchange among sites within a fiord than did T. sanguinea, a brachiopod that does not brood its larvae. In general, the fiord hydrographic conditions may be creating opportunities for local genetic differentiation (for example Long Sound) in organisms capable of longer distance dispersal, but organisms with lower potential for dispersal are more strongly influenced by ontogeny than by hydrography. Understanding the population structure of some of the marine fauna of Fiordland is an important cornerstone for the developing management plan for the area. Conservation of the underwater resources of this World Heritage Area can be successful if the structure of the system and the mechanisms driving this structure are taken into account.

New Zealand�s fourteen deep-water fiords have complex physical and hydrographic features as well as strong environmental gradients, all of which may influence the population structure of organisms that inhabit the fiords. I examined the population structure of the brachiopod Terebratella sanguinea over ecological and evolutionary time scales in relation to physical and hydrographic features of the fiords. To further explore the role of larval dispersal in this system, comparisons between population genetic structure of T. sanguinea and a brachiopod with a contrasting larval dispersal strategy (Liothyrella neozelanica) were made. Aspects of the life history of the articulate brachiopod Terebratella sanguinea were measured. I measured density and size throughout Doubtful Sound and growth at outer (5 km from outer coast) and inner fiord sites (13.5 km from outer coast). Additionally, reproductive periodicity was measured at a single site within Doubtful Sound. Terebratella sanguinea occurred at significantly lower densities and was significantly smaller at the outer fiord site (p < 0.05), however growth rates between an inner and outer fiord site did not differ significantly. Terebratella sanguinea was found to have separate sexes and synchronous maturation of oocytes with spawning occurring in the austral winter. These results indicated that, on an ecological time scale, the environmental gradient of the fiords influences aspects of T. sanguinea population structure. In order to determine the influence of the fiord environment on genetic population structure, patterns among T. sanguinea from across Fiordland were assessed using two genetic markers, and these data were compared to hydrodynamic variables. Ten sites (322 individuals) were included in a preliminary allozyme analysis, and 20 sites (358 individuals) were used for the amplified fragment length polymorphism (AFLP) analysis. Patchy genetic differentiation was revealed with both markers, and a break between Long Sound and the other Fiordland sites was detected with AFLP markers. My results suggest hydrodynamic features of this region may isolate organisms that can disperse only during a planktonic larval phase, however this isolation is visible in genetic patterns only at the most extreme values of the hydrodynamic variables. To better understand how the fiord environment influences population structure of organisms that disperse via planktonic larvae, I compared population genetic structure of two sympatric brachiopod species that differ in planktonic larval duration. Genetic analysis using the AFLP technique revealed population structuring corresponding to the contrasting modes of larval dispersal. AMOVA analysis indicated Liothyrella neozelanica, a brachiopod that broods its larvae, had more limited exchange among sites within a fiord than did T. sanguinea, a brachiopod that does not brood its larvae. In general, the fiord hydrographic conditions may be creating opportunities for local genetic differentiation (for example Long Sound) in organisms capable of longer distance dispersal, but organisms with lower potential for dispersal are more strongly influenced by ontogeny than by hydrography. Understanding the population structure of some of the marine fauna of Fiordland is an important cornerstone for the developing management plan for the area. Conservation of the underwater resources of this World Heritage Area can be successful if the structure of the system and the mechanisms driving this structure are taken into account.

The thesis is dedicated to the issue of receivables. The thesis explains the reasons of creation of receivables and legal context. The accounting part of the thesis deals with accounting practices along with their demonstration on concrete examples. Tax section examines the receivables in terms of income tax and value added tax. The practical part analyzes overdue receivables of eight companies.

Bad debt deductions and doubtful debt allowances provide relief to taxpayers who would be subject to income tax on amounts accrued to them which may never be received. No definition of a bad or doubtful debt is provided in the Income Tax Act. This dissertation considered current legislation, historical court cases, academic writing and the views expressed by SARS through explanatory memoranda and directives in order to establish when a debt becomes bad or doubtful and the extent of the relief granted. This dissertation also considered the future of the doubtful debt allowance in light of the change of accounting standards from IAS 39 to IFRS 9. There are no specific requirements for a debt to become bad or doubtful. Whether a debt is bad is a factual question taking into account all relevant facts. Whether a debt is doubtful and the extent of the allowance granted is determined by the Commissioner, but that determination must be reasonable. The Commissioner relies on IAS 39 rules of impairment as the starting point for determination of a doubtful debt allowance. IFRS 9 determines impairment in a significantly different manner to IAS 39, abandoning the requirement that a “loss event” must have occurred. Adoption of IFRS 9 will result in a change to the determination of doubtful debt allowances, for example, by reducing the generally accepted rate of 25% of identified doubtful debts or by requiring the taxpayer to compile a list of debts which would have qualified as doubtful under IAS 39.

The aim of this thesis is to draw the attention to the problems in the book-keeping which are influenced by the current tax legislation and which could lead to distortion of the financial statements and therefore also to violation of the concept of true and fair view in the accounting. In this dissertation thesis following accounting transactions are emphasized: allowances for doubtful receivables, depreciation, provisions and deferred tax. These operations are often missed out or distorted in the accounting as their impact on the tax base is neutral.

Neste trabalho foram revisados os principais modelos, para a avaliação do risco de crédito e para o provisionamento de perdas com clientes, concluindo-se com uma proposta de adoção de um modelo estatístico, com o objetivo de medir o risco associado ao financiamento e empréstimo a clientes, com o conseqüente impacto na mensuração dos ativos. Sem o objetivo de exaurir o assunto, foram adotados os passos relacionados a seguir para o desenvolvimento do tema até a proposição final. Na introdução, são feitas as justificativas sobre o tema, qual a questão problema associada ao tema e os desafios da contabilidade quanto à mensuração dos ativos. Em relação à gestão de riscos, são relacionados os tipos de riscos em geral, detalhado o risco de crédito em particular e avaliados os modelos de concessão de crédito. Sobre a constituição da Provisão para Devedores Duvidosos, foram pesquisados os principais autores de contabilidade e de finanças, onde se constatou proposições semelhantes, que podem ser resumidas em 4 modelos de provisionamento para Perdas com Devedores Duvidosos: 1. Baixa – "Write-off"; 2. Percentual sobre as vendas; 3. Percentual sobre o montante de contas a receber; 4. Idade da carteira – "aging". Em seguida são analisadas as correlações entre os modelos de previsão de insolvência e as perdas com crédito, onde é possível identificar que os modelos de insolvência são úteis para a concessão do crédito, mas pouco utilizados para a estimativa da perda provável com devedores duvidosos. Em 21 de dezembro de 1999, o Banco Central do Brasil, emitiu a Resolução 2.682, na qual recomenda às instituições financeiras que alterem suas metodologias de provisionamento para perdas com devedores duvidosos. O Banco Central, entretanto, não indica qual modelo utilizar, deixando a cargo de cada instituição o desenvolvimento dos modelos. Utilizando a norma do Banco Central como referência, e procurando um embasamento científico para a constituição da PDD, é proposto um modelo para a sua constituição, modelo esse testado e avaliado, tanto em conformidade às normas do Banco Central, como com orientação gerencial. Para tanto, foi desenvolvido um modelo estatístico, aplicando-se a técnica da regressão logística, a 202 clientes de uma instituição financeira, onde foi possível concluir-se que o uso do modelo, na constituição da Provisão para Devedores Duvidosos, poderá trazer benefícios na mensuração do real valor dos investimentos em contas a receber. / This project aims at evaluating the used models and proposing the adoption of new models, for the Allowance for Doubtful Accounts, with the objective of measuring the risk related to customers financing and loan activities, and the resulting impact in assets measurements. In order to achieve this goal and try not to over exploit the subject, the following steps related to the development of the theme were adopted. In the introduction the theme is explained; the main issue associated to the theme and the challenges the accounting has to face concerning the assets measurements. As for the risk management the general kinds of risks are described, particularly the credit risk and the credit concession models are evaluated. Referring to the Allowance for Doubtful Accounts constitution, most meaningful authors in the field of Accounting and Finance were researched and similar propositions underlined their writings; that can be summarized in 4 allowance models for Doubtful Accounts. 1. Write off; 2. Percentage over the sales; 3. Percentage over receivables; 4. Aging. Then the correlations between the models of insolvency prediction and the credit losses are analyzed where it is possible to verify that the insolvency models are useful for credit concession, though not very much used for estimating probable loss with Doubtful Accounts. The Central Bank of Brazil (Banco Central do Brasil) issued the act number 2682 on the 21st of December, 1999, that urges all financial institutions to change their methodologies of Allowance for Doubtful Accounts. The Central Bank, however, does not indicate the model to be used, leaving the task of developing the models to each institution. Based on the policy of Central Bank and keeping a scientific approach to the constitution of Allowance for Doubtful Accounts, a model for their constitution in the portfolio is proposed. Such model is tested and evaluated not only, according to the rules of Central Bank of Brazil, but also in terms of management orientation. Having this purpose in mind a statistic model was developed, using LOGIT Regression applied to 202 customers of a financial institution where it was possible to come to the conclusion that the use of the model in the constitution of the Allowance for Doubtful Accounts can bring benefits in measuring the real value of investments in Receivables.

Submitted by Filipe dos Santos (fsantos@pucsp.br) on 2017-02-22T11:46:50Z No. of bitstreams: 1 Anderson José da Silva.pdf: 2051807 bytes, checksum: 6a0deb5807f5de3ecf2b3bf065df65ad (MD5) / Made available in DSpace on 2017-02-22T11:46:50Z (GMT). No. of bitstreams: 1 Anderson José da Silva.pdf: 2051807 bytes, checksum: 6a0deb5807f5de3ecf2b3bf065df65ad (MD5) Previous issue date: 2017-02-14 / Amid the country’s economic slowdown scenario, along with a sharp growth in loan portfolio records at financial institutions that were encouraged by the government in order to promote national development, a circumstantial increase in default is observed. Therefore, a closer attention is needed on credit risk management.This research aims to verify the relationship between the country’s economic factors, mainly the Selic rate, and the performance of allowance for doubtful accounts (AFDA), the total financial institutions’ assets and its impact to the credit risk and their results. Literature review presented the concepts of credit and its risk, Basel Accords risk control requirements and recommendations, and the most expressive facts from Lula and Dilma governments’ economic policy.On the basis of these data, statements from the 30 largest institutions by assets in Brazil from 2010 to 2015 were gathered and, through multiple regression generated by Minitab software it was possible to assess the impact in provisions of the following variables: Selic rate, profitability, size of loan portfolio, and asset size. Aggregating the banks in groups with similar characteristics enabled to observe their behavior in face of the variables, that Selic rate has more influence in private banks and in those with a lower credit in total asset (an increase in Selic rate tends to generate a lower AFDA in relation to the total asset). With respect to the banks with large loan portfolio in relation to the asset, a strong action of Selic rate on provisions was observed. However, an increase in this variable also impacts the provisions increase. When public banks were analyzed, it was not possible to verify a significant influence of this rate in relation to the provisions Regarding natural log of the assets and size of loan portfolio variables in total asset, it was verified their great influence, in general, in the ration between AFDA/total loan portfolio, with greater impact on public banks, the ones with smaller loan portfolio, and those with larger asset portfolio. Profitability has an influence on the ones with larger loan portfolio and on the main private banks, once profitability increases compete for the increase in the provisions on the total of assigned. The performance diagnostic of variables on credit risk ascertain the effect of each index on the response variable, which highlights the credit policy adopted by the clusters, emphasizing the crucial points to effectively manage the risk in favor of quality in financial transactions resulting in improved performance / Em meio ao cenário de desaceleração econômica no país, com o histórico de acentuado aumento na carteira de crédito das instituições financeiras, incentivado pelo governo no intento de promover o desenvolvimento nacional, verifica-se aumento na inadimplência, o que cientifica a necessidade de atenção redobrada para o gerenciamento do risco de crédito. Isto posto, essa pesquisa busca checar a relação entre fatores econômicos do país, principalmente da taxa Selic Meta, com o desempenho das provisões para crédito de liquidação duvidosa (PCLD) no total da carteira de ativo das instituições financeiras, e a sua repercussão no risco de crédito e na rentabilidade. A revisão da literatura discorreu sobre os conceitos de crédito e seu risco, as exigências para seu controle e recomendações de Basileia, bem como sobre a matriz de política macroeconômica adotada durante os governos Lula e Dilma. Subsidiado por esse referencial teórico, levantaram-se as demonstrações das 30 maiores instituições financeiras em ativos no Brasil, do ano de 2010 a 2015 e, por meio de regressão múltipla gerada no software Minitab, diagnosticou-se o impacto, nas provisões, das variáveis taxa Selic Meta, rentabilidade, tamanho da carteira de crédito e tamanho do ativo. Apurou-se que a taxa Selic Meta exerce maior influxo aos bancos privados, no qual o seu aumento impacta negativamente na relação PCLD / total da carteira de crédito, do que comparado às instituições públicas. Também há grande influência desta taxa nos que possuem maior e menor crédito no total do ativo (o aumento da taxa Selic tende a gerar menos PCLD no total de crédito para os menores e mais aos maiores). A rentabilidade gera mais influência e é significativa aos que possuem maior carteira de crédito e seu avanço impacta negativamente na relação PCLD / total de crédito, sendo que ela também é influente nos bancos públicos e privados, mas não significativa. Sobre a variável logaritmo natural do ativo, aferiu-se grande influência dessas na relação PCLD / total de crédito, impactando mais aos bancos públicos e aos que possuem menor carteira de crédito, enquanto a participação da carteira de crédito no total do ativo exerce mais influência aos bancos privados e aos com menor volume de crédito. Constata-se também semelhanças no desempenho de indicadores macroeconômicos como PIB, inflação e taxa de desemprego perante a evolução de variáveis das instituições financeiras. O exercício das variáveis no risco de crédito constata os efeitos delas nas provisões, evidenciando a política de crédito adotada pelas instituições e ressaltando os pontos vitais para o gerenciamento eficaz do risco em prol de um melhor desempenho

Neste trabalho foram revisados os principais modelos, para a avaliação do risco de crédito e para o provisionamento de perdas com clientes, concluindo-se com uma proposta de adoção de um modelo estatístico, com o objetivo de medir o risco associado ao financiamento e empréstimo a clientes, com o conseqüente impacto na mensuração dos ativos. Sem o objetivo de exaurir o assunto, foram adotados os passos relacionados a seguir para o desenvolvimento do tema até a proposição final. Na introdução, são feitas as justificativas sobre o tema, qual a questão problema associada ao tema e os desafios da contabilidade quanto à mensuração dos ativos. Em relação à gestão de riscos, são relacionados os tipos de riscos em geral, detalhado o risco de crédito em particular e avaliados os modelos de concessão de crédito. Sobre a constituição da Provisão para Devedores Duvidosos, foram pesquisados os principais autores de contabilidade e de finanças, onde se constatou proposições semelhantes, que podem ser resumidas em 4 modelos de provisionamento para Perdas com Devedores Duvidosos: 1. Baixa – "Write-off"; 2. Percentual sobre as vendas; 3. Percentual sobre o montante de contas a receber; 4. Idade da carteira – "aging". Em seguida são analisadas as correlações entre os modelos de previsão de insolvência e as perdas com crédito, onde é possível identificar que os modelos de insolvência são úteis para a concessão do crédito, mas pouco utilizados para a estimativa da perda provável com devedores duvidosos. Em 21 de dezembro de 1999, o Banco Central do Brasil, emitiu a Resolução 2.682, na qual recomenda às instituições financeiras que alterem suas metodologias de provisionamento para perdas com devedores duvidosos. O Banco Central, entretanto, não indica qual modelo utilizar, deixando a cargo de cada instituição o desenvolvimento dos modelos. Utilizando a norma do Banco Central como referência, e procurando um embasamento científico para a constituição da PDD, é proposto um modelo para a sua constituição, modelo esse testado e avaliado, tanto em conformidade às normas do Banco Central, como com orientação gerencial. Para tanto, foi desenvolvido um modelo estatístico, aplicando-se a técnica da regressão logística, a 202 clientes de uma instituição financeira, onde foi possível concluir-se que o uso do modelo, na constituição da Provisão para Devedores Duvidosos, poderá trazer benefícios na mensuração do real valor dos investimentos em contas a receber. / This project aims at evaluating the used models and proposing the adoption of new models, for the Allowance for Doubtful Accounts, with the objective of measuring the risk related to customers financing and loan activities, and the resulting impact in assets measurements. In order to achieve this goal and try not to over exploit the subject, the following steps related to the development of the theme were adopted. In the introduction the theme is explained; the main issue associated to the theme and the challenges the accounting has to face concerning the assets measurements. As for the risk management the general kinds of risks are described, particularly the credit risk and the credit concession models are evaluated. Referring to the Allowance for Doubtful Accounts constitution, most meaningful authors in the field of Accounting and Finance were researched and similar propositions underlined their writings; that can be summarized in 4 allowance models for Doubtful Accounts. 1. Write off; 2. Percentage over the sales; 3. Percentage over receivables; 4. Aging. Then the correlations between the models of insolvency prediction and the credit losses are analyzed where it is possible to verify that the insolvency models are useful for credit concession, though not very much used for estimating probable loss with Doubtful Accounts. The Central Bank of Brazil (Banco Central do Brasil) issued the act number 2682 on the 21st of December, 1999, that urges all financial institutions to change their methodologies of Allowance for Doubtful Accounts. The Central Bank, however, does not indicate the model to be used, leaving the task of developing the models to each institution. Based on the policy of Central Bank and keeping a scientific approach to the constitution of Allowance for Doubtful Accounts, a model for their constitution in the portfolio is proposed. Such model is tested and evaluated not only, according to the rules of Central Bank of Brazil, but also in terms of management orientation. Having this purpose in mind a statistic model was developed, using LOGIT Regression applied to 202 customers of a financial institution where it was possible to come to the conclusion that the use of the model in the constitution of the Allowance for Doubtful Accounts can bring benefits in measuring the real value of investments in Receivables.

Submitted by LUIS OTAVIO PAVAN HATAMOTO (luis_hatamoto@hotmail.com) on 2017-01-10T18:35:12Z No. of bitstreams: 1 LuisHatamoto-TeseMestrado.pdf: 1852048 bytes, checksum: bc6eb8138880413b55d2b36836dc2d21 (MD5) / Rejected by Fabiana da Silva Segura (fabiana.segura@fgv.br), reason: Boa Tarde, Prezado Luis Por favor corrigir os seguintes itens: Tirar o acento de Getulio Titulo em letras maiúsculas - alterar nas página que houver o titulo No fim da página fica apenas São Paulo tirar o - SP Campo de Conhecimento: Finanças e Economia de Empresas (alterar nas páginas que houver campo de conhecimento) Peço proceder com as alterações e submeter novamente o trabalho Atenciosamente on 2017-01-10T18:48:54Z (GMT) / Submitted by LUIS OTAVIO PAVAN HATAMOTO (luis_hatamoto@hotmail.com) on 2017-01-11T12:50:13Z No. of bitstreams: 2 LuisHatamoto-TeseMestrado.pdf: 1852048 bytes, checksum: bc6eb8138880413b55d2b36836dc2d21 (MD5) Financ¸as-Hatamoto-Tese-Final_v4 - entrega.pdf: 1507861 bytes, checksum: cf32b9fd2a3bdc2b7a9dff998a04a9fc (MD5) / Approved for entry into archive by Fabiana da Silva Segura (fabiana.segura@fgv.br) on 2017-01-11T15:14:18Z (GMT) No. of bitstreams: 2 LuisHatamoto-TeseMestrado.pdf: 1852048 bytes, checksum: bc6eb8138880413b55d2b36836dc2d21 (MD5) Financ¸as-Hatamoto-Tese-Final_v4 - entrega.pdf: 1507861 bytes, checksum: cf32b9fd2a3bdc2b7a9dff998a04a9fc (MD5) / Made available in DSpace on 2017-01-12T11:47:23Z (GMT). No. of bitstreams: 2 LuisHatamoto-TeseMestrado.pdf: 1852048 bytes, checksum: bc6eb8138880413b55d2b36836dc2d21 (MD5) Financ¸as-Hatamoto-Tese-Final_v4 - entrega.pdf: 1507861 bytes, checksum: cf32b9fd2a3bdc2b7a9dff998a04a9fc (MD5) Previous issue date: 2016-12-13 / This study seeks to assess whether the provision method for doubtful accounts (PDD, or 'Provisão para Devedores Duvidosos') adopted by financial institutions is applicable in retail companies and if there are adjustments needed to improve the use of these methods in this sector. Banks and other financial institutions have unique characteristics in the composition of its loan portfolio, which require the adoption of different procedures in the PDD composition against those charged by other sectors (i.e. trade, industry or services), which are free to actualize the loss provisioning. Financial companies are regulated by the Central Bank of Brazil through the Resolution of the National Monetary Council No. 2682 of December 21th 1999 which determines percentage, terms and minimum levels of classification, and which leaves the task of developing risk models for the institutions. Based on the Resolution by Central Bank of Brazil, this study evaluate the adoption of provisioning models used by financial institutions in the receivables’ portfolio from suppliers in a Brazilian retail company, and through an academic work applied to propose a model for allowance for doubtful accounts of this portfolio. The main objective is achieved due to the risk model developed fits better the provision in the losses. This benefit has two effects: first in the profits, as it reduces the expenses with allowances, and second since it smooths impacts of bad debts. / O estudo visa avaliar se o método de provisão para devedores duvidosos (PDD) adotado pelas instituições financeiras é aplicável em empresas varejistas e se há necessidade de adequações para melhorar o uso deste método neste setor. Bancos e demais instituições financeiras têm características singulares na composição de sua carteira de crédito, que obrigam a adoção de procedimentos diferenciados na composição da PDD em relação aos praticados pelos demais setores (comerciais, indústria ou de prestação de serviços), os quais são livres para realizar o provisionamento de perdas. Empresas do setor financeiro são regulamentadas pelo Banco Central do Brasil através da Resolução do Conselho Monetário Nacional de n° 2.682 de 21 de dez de 1999, que determina percentuais, prazos e níveis mínimos de classificação, deixando a cargo das instituições fazerem a classificação de risco de suas operações. Considerando esta norma do Banco Central do Brasil, este trabalho avalia a adoção do modelo de provisionamento utilizado pelas instituições financeiras, na carteira de trade allowances, que são recebíveis de fornecedores com origem em negociações comerciais realizadas entre a empresa varejista e seus fornecedores, utilizados para fomentar a venda de produtos, por exemplo, desconto no preço final, exposição diferenciada, entre outras ações e, através de um trabalho acadêmico aplicado propõe um modelo de avaliação de risco para constituição da PDD desta carteira. O principal objetivo é atingido, pois o modelo de avaliação de risco se mostra satisfatório e o método de provisionamento, seguindo a Resolução 2.682, gerou benefício a medida que melhor se adequou à perda observada. Este benefício tem efeito tanto no resultado, a medida que reduz a despesa com a provisão, como na gestão do capital de giro, pois suaviza impactos de não recebimento.